This is not the first time the school has profited from something like this. In 2004 Nike signed a contract to produce retro Laney athletic apparel including jerseys, t-shirts, shooting jackets and head-gear. During that contract, which ended in 2010, the school brought in more than $80,000 in two years.

No word yet on how Nike plans to use the logo, although there has been speculation that Nike plans to release a new line of Air Jordan’s during the holidays.